Earnings (Loss) Per Common Share

12 Months Ended

Dec. 31, 2024

Basic net earnings (loss) per common share is computed by dividing net income (loss) by the weighted-average number of shares of Common Stock outstanding. Diluted earnings (loss) per common share reflects, in periods in which it has a dilutive effect, the impact of common shares issuable upon exercise of stock options and warrants as well as non-vested restricted stock awards. The computation of diluted earnings (loss) per common share excludes those options and warrants with an exercise price in excess of the average market price of the Company’s Common Stock during the periods presented. For the year ended December 31, 2024, there were 2,828 options with an exercise price in excess of the average market price of the Company’s Common Stock during the period. For the year ended December 31, 2024, there were no warrants with an exercise price in excess of the average market price of the Company’s Common Stock during the period.

The computation of diluted earnings (loss) per common share excludes outstanding options, warrants and non-vested restricted stock awards in periods where the exercise of such options and warrants or vesting of such restricted stock awards would be anti-dilutive. For the year ended December 31, 2023, no options, warrants or restricted stock awards were included in the computation of diluted loss per common share as they would have been anti-dilutive for the relevant period and, as a result, the weighted average number of shares of Common Stock used in the calculation of diluted loss per common share has not been adjusted for the effect of such options, warrants and non-vested restricted stock awards.

The reconciliation of the weighted average number of shares of Common Stock used in the calculation of basic and diluted earnings (loss) per common share follows:


	Years ended December 31,
	2024	2023

Weighted average number of shares outstanding	11,478,899	10,756,487

Effect of dilutive securities, common share equivalents:
Stock options	205,961	-
Warrants	554,516	-
Restricted stock awards	184,393	-

Weighted average number of shares outstanding,
used for computing diluted earnings (loss) per share	12,423,769	10,756,487